95
! and permitting the establishments should be enforced without delay, the cash first being sent home for replenishment.
This is all wrong now the Colonial Govt is asking for the Branch, For I mentioned that the ordinance prepared by the Govt had been introduced under a mis-apprehension of the legal qualities of a Colonial Corporation.
It will only be necessary to point out to them the real state of the case in order to induce them to drop their proposal.
This despatch – which is unnecessary, & I take it is there only suggested upon the supposition that the Colony Local Govt was representing the Bank.
I would still suggest that Lord K. agrees with their views on the necessity of legislation.
At having since received 16229 - he is far from thinking that as the wishes of the settlement are clear.
There is no occasion for any legislation respecting the establishment of Branch now or at any future time: back as the Colony Legislature in the Bill lately passed the clause most intrusive.
will by mail of 28th convey a 'writ to the paper to be laid before the Legco in the Lesson of 14/8/89 - desiring the abandonment of cl. 1–4 of the Bill sent to him 27 May 80 -(m6317/80) hearing.
Request Treasury to communicate their consent to the London Branch, as proposed they offered in $859
II. Issuing of Notes and
The Secretary appears ignorant of the mode of re-issuing Bank notes, which in fact are paid out again the next day without alteration, so on until the note is worn out. I think it necessary to explain that they are re-issued before being again paid out.
Write immediately to Treasury that some legislation is missing at the Straits, who I & Branches desire to regulate the note issue.
Bank desires to have it done as soon as it is passed or Singapore: that such legislation will have no effect outside the Colony, and will only affect the Branches in the Colony as the notes issued from these Branches.
that clause 6. of the Straits Bill appears to Lord Knutsford to contain all that is necessary for the purpose, and he will by the mail of the 21st forward a telegram authorizing the insertion to Clause: 5-8 of the Bill, substituting however for the Jan in cl. relating to unlimited liability of Shareholders.
We should send this on quickly- inconvenienced by the delay = f. 7.10
The Colony is to proceed at once.
M. Bramston
8 Oct. see 17932 21/10
G.W. I.
Another letter to Freas within promises. Another in regard to thing. How is this to be proceeded with?
IGN